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Time to put real money in there

  • #1
  • First Post: Apr 13, 2007 4:18am Apr 13, 2007 4:18am
Well it is that time, time to see if I have what it takes. I am going to put real money in the forex market in the next week. I have been working on my trading skills, and after all the work and the guidance from a real good friend, i think i am ready. I am not going to put alot in there, just to see how I react to live trading vs demo accounts. If anyone has any insight that would make my live trading experince less nerve racking, i would be happy to digest the information. Any replies are very happily recieved.
You never fail in any feat, you just find out how not, to do it again
  • #2
  • Apr 13, 2007 4:20am Apr 13, 2007 4:20am
Let me be the first to wish you many pips

Good Luck
  • #3
  • Apr 13, 2007 4:23am Apr 13, 2007 4:23am
Thank you WHTenn, the more pips the better. lol
You never fail in any feat, you just find out how not, to do it again
  • #4
  • Apr 13, 2007 5:01am Apr 13, 2007 5:01am
In a normal business, you need to incure expenses (power, stock) so you can make profits (sales). FX is similar, try to think of losses a cost of making profits... as a newb, it helps me at least
  • #5
  • Apr 13, 2007 5:24am Apr 13, 2007 5:24am
Quoting Marrethiel
In a normal business, you need to incure expenses (power, stock) so you can make profits (sales). FX is similar, try to think of losses a cost of making profits... as a newb, it helps me at least
That's a good way of thinking. Salute.
  • #6
  • Apr 13, 2007 8:53am Apr 13, 2007 8:53am
Quoting a123we
Well it is that time, time to see if I have what it takes. I am going to put real money in the forex market in the next week. I have been working on my trading skills, and after all the work and the guidance from a real good friend, i think i am ready. I am not going to put alot in there, just to see how I react to live trading vs demo accounts. If anyone has any insight that would make my live trading experince less nerve racking, i would be happy to digest the information. Any replies are very happily recieved.
Whatever you've been doing on demo, however well your strike rate, real money brings different emotions to the table.
Your first concern should be account preservation. Start out with single lot trades, irrespective of how small a percentage of your account that represents. Don't forget, you're learning how to trade FX all over again.
Remember all the lessons that seemed easy to listen to when on demo - don't be greedy, don't try and get even blah, blah, blah. They were easy to apply with paper money, but when it's real, hard cash - YOUR cash - they'll slip to the back of your mind.

Good trading
  • #7
  • Apr 13, 2007 8:57am Apr 13, 2007 8:57am
Quoting a123we
Well it is that time, time to see if I have what it takes. I am going to put real money in the forex market in the next week. I have been working on my trading skills, and after all the work and the guidance from a real good friend, i think i am ready. I am not going to put alot in there, just to see how I react to live trading vs demo accounts. If anyone has any insight that would make my live trading experince less nerve racking, i would be happy to digest the information. Any replies are very happily recieved.
Good luck!! Keep coming back to FF, some of the members' insights will help a lot. I promise you.
  • #8
  • Apr 13, 2007 10:12am Apr 13, 2007 10:12am
Fund the account with half the money you plan to deposit.
  • #9
  • Apr 13, 2007 11:22am Apr 13, 2007 11:22am
Quoting a123we
Well it is that time, time to see if I have what it takes. I am going to put real money in the forex market in the next week. I have been working on my trading skills, and after all the work and the guidance from a real good friend, i think i am ready. I am not going to put alot in there, just to see how I react to live trading vs demo accounts. If anyone has any insight that would make my live trading experince less nerve racking, i would be happy to digest the information. Any replies are very happily recieved.
a123we,

Protect your capital. Don't let your emotions run away with the prices. Try to learn something about yourself and your trading with every mistake. Also try to focus on things that you are doing well.

Happy Trading 2 u ...........
If it is not broken, fix it until it is!
  • #10
  • Apr 13, 2007 5:20pm Apr 13, 2007 5:20pm
I think all of you on your posts. I know that real money is going to be a big change from "paper money", but I have a real good friend that reminds me everyday about that. I know the cards are stacked against me (as far as statistics go), but I think if I keep to my plan and never stray away, no matter how big the move, I will be ok. Please keep the good posts comming
I enjoy hearing from people that know more about this topic than me (and there is alot ). Happy trading


Also, I currently use medatrader for my demo account, and I have 4 other platforms that I use.But medatrader is the one that I like the best, and to be honest I can understand alot better to, the onlytrouble is the pip spread is more than just about any other platform.
I would just like your views on what platform works best for you as a trader.
You never fail in any feat, you just find out how not, to do it again
  • #11
  • Apr 13, 2007 6:41pm Apr 13, 2007 6:41pm
1) 1 teaspoon Optimisim
&
2) A pinch of Greed

3) Stir until well blended.
___________________________________________
Too much of either and your method will morph into

1) 2 Tablespoons of Hope
&
2) 1 Cup of Fear

3) Observe until it is an ugly black mass of charred remains.

On the other hand, you could just try starting out with babysteps until you find your feet.

Good luck and "Welcome to the machine."
  • #12
  • Apr 13, 2007 6:43pm Apr 13, 2007 6:43pm
Real money and paper money is a whole different thing. good luck and don't forget the market is always there. start easy and work your way from there.
good luck.
  • #13
  • Last Post: Apr 13, 2007 9:54pm Apr 13, 2007 9:54pm
Quoting Erbing
don't forget the market is always there
Good advice!
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